ADGM FSRA implements eKYC enhancements and miscellaneous amendments

The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has implemented enhancements to its regulatory framework to help facilitate the use of non-face-to-face digital verification of identity (“eKYC”) in ADGM and mitigate any associated risks. The enhancements are in response to the notable increase in the adoption of eKYC in onboarding customers in ADGM, also being in line with a general and growing trend towards digitalisation across a range of sectors which has only been accelerated by the global pandemic, and follows on from the public consultation that the FSRA undertook in 2021. In addition, the FSRA is also taking this opportunity to make miscellaneous amendments to a number of its Rulebooks that correct minor typos, errors and omissions and, where applicable, simplify a small number of Rules to provide greater clarity to users of those Rulebooks.

To view the detailed documents on ADGM FSRA’s enhancements to its requirements for eKYC and the miscellaneous amendments please click on the following link:

• FSRA Rules (Capital Markets, eKYC and Miscellaneous)